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becoming penny stock
Game over?
Creative on &lsquo global search&rsquo for new leader as CEO Song Siow Hui retires
It named its executive chairman Dr Tan Jok Tin as interim chief executive
CREATIVE Technology : C76 -0.96% chief executive Song Siow Hui, 70, is retiring from his role as of Friday (Feb 28), and the company is now on a &ldquo global search&rdquo for its next leader.
It named its executive chairman Dr Tan Jok Tin, 73, as interim CEO. Meanwhile, the board is looking &ldquo for a dynamic and visionary leader to take Creative into its next phase of growth&rdquo , the company said in a bourse filing on Friday.
Dr Tan has a background in the global consumer electronics industry, with experience driving business transformation, operational efficiency and market expansion, said Creative.
&ldquo His deep innovation and strategic leadership expertise will further accelerate Creative&rsquo s momentum in delivering high-quality, industry-leading audio solutions,&rdquo the company added.
Song said that he is &ldquo grateful for the opportunity to have played the transitional role in the last two years&rdquo . His appointment in January 2023 followed the sudden death of Creative founder Sim Wong Hoo, who was widely seen as a tech visionary.
Said Song: &ldquo I&rsquo m looking forward to seeing the new management team take the reins to drive the company forward through transformative actions and fresh strategy.&rdquo
Dr Tan said that Creative is entering a &ldquo new and exciting phase&rdquo , and will retain its focus on &ldquo strengthening our market leadership in audio innovation&rdquo and enhancing profitability.
Creative H1 loss widens to US$6.1 million on higher expenses
Uncertainty over import tariffs by the US and potential retaliatory measures from affected countries may affect consumer demand, says the group on its outlook
HOME-GROWN electronics company Creative Technology saw its net loss widen to US$6.1 million for its first half of the year ended Dec 31, 2024, from US$4.1 million in the corresponding year-ago period.
This was despite net sales for the half-year period rising 18 per cent to US$37.4 million, from US$31.8 million in the corresponding period in the prior year.
The rise was mainly due to higher revenue from new speaker products, said the mainboard-listed company in a bourse filing on Friday (Feb 7).
Loss per share for the half-year came in at US$0.09, up from US$0.06 in the year-ago period.
No dividends were declared for the half-year, unchanged from the year before.
Selling, general and administrative expenses for the half-year period rose 7 per cent to US$11.6 million, from US$10.8 million previously.
Research and development expenses climbed 5 per cent to US$5 million, compared to US$4.8 million in the previous corresponding period.
Uncertainty over the import tariffs announced by the US, as well as potential retaliatory measures from the affected countries, may increase inflationary pressures and affect consumer demand, said the group.
That said, the company plans to introduce a broad range of new products, including speakers. These will position the company to drive revenue growth in the second half of FY2025, it said.
The group expects to record a higher revenue, an improvement in operating results and to report a lower operating loss in the second half.
Creative Technology gives notice of three years of consecutive loss
Creative Technology has given notice that it has recorded pre-tax losses for its three most recently completed financial years in a row.
For FY2024 ended June, the group recorded a loss of US$10.8 million ($14.1 million), down 35% y-o-y from US$16.7 million in FY2023.
As at Oct 9, Creative&rsquo s latest six-month average daily market capitalisation is at $91.9 million, above the $40 million minimum.
According to Rule 1311 of the Singapore Exchange S68 (SGX) listing manual, a listed company will be placed on the watch-list if they have reported pre-tax losses for the three most recent consecutive financial years and have an average daily market capitalization of less than $40 million over the past six months.
their product already obsolete many yrs ago...
They shld venture into accelerated computing, graphics card , AI, if they still have the resource or capability , instead of sound..
They shld venture into accelerated computing, graphics card , AI, if they still have the resource or capability , instead of sound..
His first purchase price was around 2.50....
now 1.20 ....
now 1.20 ....
ffyyss ( Date: 13-Jun-2024 00:30) Posted:
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Creative posts deeper H2 loss of S$6.8 million despite higher revenue
The company attributes this to foreign exchange losses, particularly the depreciation of the euro and yen against the US dollar
CREATIVE Technology posted a net loss of US$6.8 million for its second half ended Jun 30, up 10 per cent from a net loss of US$6.1 million over the same period a year earlier.
This was despite revenue for the period climbing 11 per cent to US$31 million, from US$28 million a year earlier.
Loss per share for the half year stood at US$0.10, compared with US$0.09 a year ago.
In its results release on Friday (Aug 23), Creative : C76 -4% said that US$1.2 million of losses was due mainly to foreign exchange losses. In particular, they resulted from the depreciation of currencies such as the euro and yen against the US dollar, but were partially offset by the appreciation of the Singapore dollar against the US dollar.
Still, the company noted that it was able to achieve a higher gross profit margin of 30 per cent for H2, compared with 29 per cent a year ago, due to higher margin contributions from newly launched products.
For the full year, the company narrowed its net loss by 35 per cent to US$10.8 million as revenue climbed 12 per cent to US$62.8 million.
No dividends have been recommended for H2 FY2024, as was the case for the same period in FY2023.
Creative said that the market remains challenging worldwide as middle-class consumers continue to be squeezed by inflation.
It added that its speaker business has grown in sales quantity and revenue as it enters the premium segment, and that its headphone category will be an important growth area as well.
&ldquo We are taking necessary action to consolidate and lower our cost structure to reach profitability sooner,&rdquo the company said.
&ldquo With the above efforts, for FY2025 and the first half year of FY2025, the group expects an improvement in revenue and operating results.&rdquo
Nice.. but mb he can buy consistently up to double /triple his existing holdings . then will make a pronouced impact. wont be too much for him.
Hope his advisory , creative will shine again soon. Mb include AI matrics into its pdts. Its sad many techs esp in other mkts move new highs while this is at lows
Hope his advisory , creative will shine again soon. Mb include AI matrics into its pdts. Its sad many techs esp in other mkts move new highs while this is at lows
SmallSmall ( Date: 11-Jun-2024 21:24) Posted:
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inflection pt... watz nxt @ t+3..?
moneynoenough ( Date: 11-Jun-2024 18:35) Posted:
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George Yeo bought 15,000 @ $1.26 on 10-June 2024.
Huat ah
Huat ah
2...?
moneynoenough ( Date: 10-Jun-2024 19:52) Posted:
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Day high now @ $1.43.
This crazy horse can really run if it wants to.
For those who have not tried their award winning Aurvana Ace 2 Earphone, do try them.
These earphone uses solid state drivers (MEMS) to creative sound.
MEMs are the next generation sound drivers just like TV transiting from Cathod ray tube to LED.
This crazy horse can really run if it wants to.
For those who have not tried their award winning Aurvana Ace 2 Earphone, do try them.
These earphone uses solid state drivers (MEMS) to creative sound.
MEMs are the next generation sound drivers just like TV transiting from Cathod ray tube to LED.
Old timer
have not seen such a volume for quite sometime
new man.., new coy..?
watzup....?
new man.., new coy..?
watzup....?
moneynoenough ( Date: 12-Dec-2023 01:15) Posted:
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Support local Tech.
Actually to be honest, they are better off if they can be acquired by the big techs like Apples, Huawei, Samsung etc as their products are pretty good especially their solid state earhead (though technology not owned by them) and their desktop speakers
Actually to be honest, they are better off if they can be acquired by the big techs like Apples, Huawei, Samsung etc as their products are pretty good especially their solid state earhead (though technology not owned by them) and their desktop speakers
We are honored to receive not one but two prestigious awards at this year' s European Hardware Awards!
The Creative Aurvana Ace 2 has been awarded the Best Earphones, triumphing over 10 other nominees in this fiercely competitive category. Additionally, our latest Creative Pebble X Plus has been recognized as the Best Speakers for its excellent audio performance.
The European Hardware Association, which unites nine top independent technology news sites from across Europe, reaches an audience of over 22 million technology enthusiasts and influencers. This recognition is supported by a panel of more than 100 experienced editors.
Thank you for your continued support and trust in Creative&rsquo s commitment to delivering exceptional audio experiences.
#EHA2024 #EuropeanHardwareAwards #Computex #BestEarphones #BestSpeakers #AurvanaAce2 #PebbleXPlus
The Creative Aurvana Ace 2 has been awarded the Best Earphones, triumphing over 10 other nominees in this fiercely competitive category. Additionally, our latest Creative Pebble X Plus has been recognized as the Best Speakers for its excellent audio performance.
The European Hardware Association, which unites nine top independent technology news sites from across Europe, reaches an audience of over 22 million technology enthusiasts and influencers. This recognition is supported by a panel of more than 100 experienced editors.
Thank you for your continued support and trust in Creative&rsquo s commitment to delivering exceptional audio experiences.
#EHA2024 #EuropeanHardwareAwards #Computex #BestEarphones #BestSpeakers #AurvanaAce2 #PebbleXPlus
SmallSmall ( Date: 10-May-2024 10:02) Posted:
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Someone rectified inaccurate information about Creative on Wikipedia.
Ftyeng ( Date: 30-May-2024 15:27) Posted:
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I just read from Wikipedia ( https://en.wikipedia.org/wiki/Creative_Technology ) that " Creative Techology" is now owned by " Deen Khan" alongside its Co-owner, " Ollie McCallum" .
When did our best technology company ( at one point of time ) fall into the hands of foreigners? Isn' t there supposed to be some kind of restrictions against foreign ownership of local companies ( like in USA) ?
When did our best technology company ( at one point of time ) fall into the hands of foreigners? Isn' t there supposed to be some kind of restrictions against foreign ownership of local companies ( like in USA) ?
Director Kwang Toh Kay bought 10K @ $1.24 few days ago.
Nothing significant but a great gesture as he works from within the company
Nothing significant but a great gesture as he works from within the company